Tracking Down Donation Substantiation
If you’re like many Americans, your mailbox may have been filling up in recent weeks with letters from your favorite charities acknowledging your 2023 donations. But what happens if you… Read More
Community Blogs
How to Secure a Tax Benefit with the QBI Deduction
QBI may sound like the name of a TV quiz show. But it’s actually the acronym for “qualified business income,” which can trigger a tax deduction for some small business… Read More
Traveling for Business in 2024? What’s Deductible?
If you and your employees will be traveling for business this year, there are many factors to keep in mind. Under the tax law, certain requirements for out-of-town business travel… Read More
The Ligon Family History, Part 3
A Royal Refuge, Brideshead Revisited, and a 170-Year-Long Lawsuit Recall from two earlier monthly columns that Thomas Ligon/Lygon, the progenitor of the American Ligon line, is my proven great-g-g-g-g-g-g-g-g-grandfather, and… Read More
The Advantages of LLC Structure for a Small Business
If you operate your small business as a sole proprietorship, you may have thought about forming a limited liability company (LLC) to protect your assets. Or maybe you’re launching a… Read More
One Reason to File Your 2023 Tax Return Early
The 2023 individual income tax return filing season will open soon. Even if you typically don’t file until much closer to the April 15 deadline (or you file for an… Read More
The Ligon Family Reunion at Madresfield Court, Part 2
In July 2023 I was privileged and lucky to be able to attend the reunion of the Ligon/Lygon family at the astounding Madresfield Court, in Worcestershire, England. As described in… Read More
Blog: 5 Tips to Make the Most of Winter Break
Winter break and the holidays are fast approaching. For many people, this is an enjoyable time to spend time with family and friends, get a break from school and work,… Read More
Use the Tax Code to Make Business Losses Less Painful
Whether you’re operating a new company or an established business, losses can happen. The federal tax code may help soften the blow by allowing businesses to apply losses to offset… Read More
Businesses Can Save Taxes by Acquiring and Placing Assets in Service by Year End
Under Section 179 of the Internal Revenue Code, companies can “expense” the full cost of qualifying fixed assets to reduce their taxable income. This means they can deduct the purchase… Read More
3 Strategies for Estimated Tax Payments
Many individuals today are self-employed or generate income from interest, rent, dividends and other sources. If you’re in this situation, you could be risking penalties if you don’t pay enough… Read More
Blog: What is the SAVE Repayment Plan?
A new student loan repayment plan can halve your monthly student loan payments (if you qualify). The new Saving on a Valuable Education (SAVE) Plan is the latest income-driven repayment… Read More